Foster Wheeler Awarded Contract for an LNG Receiving Terminal in Dominican Republic
March 12 2012 - 7:30AM
Business Wire
Foster Wheeler AG (Nasdaq: FWLT) announced today that a
subsidiary of its Global Engineering and Construction Group has
been awarded the basic design and front-end engineering design
contract by Complejo GNL del Este, a Consortium formed by Dominican
and Colombian companies that participate in the energy sector of
these countries, for a new LNG receiving terminal and jetty to be
built in San Pedro de Marcorís in the Dominican Republic.
The Foster Wheeler contract value for this project was not
disclosed and will be included in the company’s first-quarter 2012
results.
Foster Wheeler has previously completed a feasibility study for
the selection of the most suitable technology for the new terminal,
which will be designed for a send-out capacity of 240 million
standard cubic feet per day (MMscf/d), with an LNG storage tank of
160,000 cubic meters. The design will also consider future
expansion(s) up to 700 MMscf/d. Foster Wheeler will work with a
local partner in executing this work, which is expected to be
completed in September 2012.
“We are pleased to receive this award, which demonstrates our
client’s satisfaction with the feasibility study we have completed
and Complejo GNL del Este’s confidence in our LNG expertise and
ability to deliver fast-track execution strategies,” said Umberto
della Sala, President and Chief Operating Officer, Foster Wheeler
AG. “Latin America is a strategically important region for Foster
Wheeler, and is a region where we already have a very strong track
record in winning and successfully executing large, complex
projects.”
Foster Wheeler AG is a global engineering and construction
company and power equipment supplier delivering technically
advanced, reliable facilities and equipment. The company employs
approximately 12,000 talented professionals with specialized
expertise dedicated to serving its clients through one of its two
primary business groups. The company’s Global Engineering and
Construction Group designs and constructs leading-edge processing
facilities for the upstream oil and gas, LNG and gas-to-liquids,
refining, chemicals and petrochemicals, power, mining and metals,
environmental, pharmaceuticals, biotechnology and healthcare
industries. The company’s Global Power Group is a world leader in
combustion and steam generation technology that designs,
manufactures and erects steam generating and auxiliary equipment
for power stations and industrial facilities and also provides a
wide range of aftermarket services. The company is based in Zug,
Switzerland, and its operational headquarters office is in Geneva,
Switzerland. For more information about Foster Wheeler, please
visit our Web site at www.fwc.com.
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however, to consult any additional disclosures the Company makes in
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the Securities and Exchange Commission.
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